Canasia Industries Corporation: Eight Anomalies Interpreted on Reed Lake Prospect

VANCOUVER, BRITISH COLUMBIA, Sep 02 (MARKET WIRE) --
Canasia Industries Corporation (TSX VENTURE: CAJ)(OTCBB:
CANSF)(FRANKFURT: 45C) ("Canasia") is pleased to announce that it has
been informed by the operator that they have received the preliminary
interpretation of the Reed Lake VTEM data from Condor Consulting on the
Reed Lake Claims in Manitoba. This data incorporated 3306 line
kilometres. The preliminary VTEM interpretation has identified eight
potential anomalies on the property. The eight anomalies are currently
undergoing a detailed interpretation in an effort to identify outlining
structures, favourable geology, and zones of alteration. Once the final
data is received in approximately two weeks, it will be compared to the
known areas of historical mineralization to verify new or confirm
existing targets.

The property is strategically located bordering the VMS Ventures Inc.
base metal discovery (10.36% Copper Over 33.46 Metres, July 3, 2008) in
the historic and very prolific Flin Flon mining camp, with more than 27
significant mineral deposits continuously discovered over the past 75
years. The most recent discovery is HudBay's Lalor Lake property, with 20
million tonnes of 8.8 per cent zinc.

If you would like to be added to Canasia's news distribution list, please
send your email address to info@canasiaind.com.

Graeme Sewell, Director

Canasia Industries Corporation

Disclaimer for Forward-Looking Information

Forward-looking statements consist of statements that are not purely
historical, including any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such statements are
subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those contained in
the statements. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if they do
occur, what benefits the Company will obtain from them. These
forward-looking statements reflect management's current views and are
based on certain expectations, estimates and assumptions which may prove
to be incorrect. A number of risks and uncertainties could cause our
actual results to differ materially from those expressed or implied by
the forward-looking statements, including: (1) a downturn in general
economic conditions in North America and internationally, (2) the
inherent uncertainties and speculative nature associated with mineral
exploration, (3) a decreased demand for minerals, (4) any number of
events or causes which may delay or cease exploration and development of
the Company's property interests, such as environmental liabilities,
weather, mechanical failures, safety concerns and labour problems; (5)
the risk that the Company does not execute its business plan, (6)
inability to retain key employees, (7) inability to finance operations
and growth, (8) inability to obtain all necessary environmental and
regulatory approvals, (9) an increase in the number of competitors with
larger resources, (10) other factors beyond the Company's control; and
(11) the ability of the Company to acquire the services of contract
trades to perform work programs in a timely manner. These forward-looking
statements are made as of the date of this news release and the Company
assumes no obligation to update these forward-looking statements, or to
update the reasons why actual results differed from those projected in
the forward-looking statements. Additional information about these and
other assumptions, risks and uncertainties are set out in the "Risks and
Uncertainties" section in the Company's MD&A filed with Canadian security
regulators.

The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of the content of this
news release.

Contacts:
Canasia Industries Corporation
Graeme Sewell
Director
1-877-225-6755
(604) 689-1733 (FAX)
Email: info@canasiaind.com
Website: www.canasiaind.com

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